Crossamerica Partners (CAPL) investor relations material

Executive summary

• Adjusted EBITDA for Q2 2026 was $51.8 million, up 40% year-over-year, driven by strong fuel and merchandise margins, while Distributable Cash Flow rose to $33.6 million.

• Net income for Q2 2026 was $20.8 million, down from $25.2 million in Q2 2025, primarily due to lower real estate gains.

• Operating revenues for Q2 2026 increased 23% year-over-year to $1.18 billion, reflecting higher fuel prices despite lower volumes.

• Focused on retail fuel pricing, merchandise margin improvement, cost management, and real estate optimization, including five property sales generating $2.7 million in proceeds.

• Jonathan Benfield appointed CFO on July 20, 2026.

Financial highlights

• Retail segment gross profit rose 13% to $85.7 million; wholesale segment gross profit increased 9% to $27.1 million year-over-year.

• Distributable Cash Flow for Q2 2026 was $33.6 million, up from $22.4 million in Q2 2025.

• Operating expenses declined $2.9 million year-over-year, marking the seventh consecutive quarter of decline.

• Gross profit for Q2 2026 increased to $112.8 million, up 12% year-over-year.

• Distribution Coverage Ratio improved to 1.68x for Q2 2026 and 1.39x for the trailing twelve months.

Outlook and guidance

• Strong first half of 2026 positions the company for continued success in the second half, with ongoing focus on cost management, portfolio optimization, and investment flexibility.

• Continued focus on targeted renovations, food offering expansion, and disciplined execution amid market volatility.

• Results for 2026 expected to be influenced by crude oil price volatility and ongoing real estate optimization.